Universal Energy Group Ltd.
TSX : UEG

Universal Energy Group Ltd.

November 28, 2008 06:00 ET

Universal Energy Group Updates Discussions Regarding Prospective Transaction

TORONTO, ONTARIO--(Marketwire - Nov. 28, 2008) - Universal Energy Group Ltd. ("UEG") (TSX:UEG) announced today that it has extended its period of exclusive negotiations with Commerce Energy Group, Inc. ("Commerce Energy") in connection with a previously announced potential acquisition of assets and shares, through to December 6, 2008. Further updates will be issued as required.

Universal Energy Group's common shares are listed on the Toronto Stock Exchange under the symbol "UEG". Universal Energy Group through its subsidiary Universal Energy Corporation, sells electricity and natural gas in Ontario and natural gas in British Columbia to residential, small to mid-size commercial and small industrial customers. Universal Energy Group through its subsidiary Universal Gas & Electric Corporation, sells natural gas in Michigan to residential, small to mid-size commercial and small industrial customers. Universal Energy Group through its subsidiary National Energy Corporation, operating under the trade name National Home Services, sells long-term water heater rental programs to Ontario residential customers. Universal Energy Group through its subsidiary Terra Grain Fuels Inc. operates an ethanol facility near Belle Plaine, Saskatchewan. Additional information about Universal Energy Group is available on SEDAR (www.sedar.com).

Contact Information

  • Universal Energy Group Ltd.
    Stephen Plummer
    Chief Financial Officer
    (416) 673-1160
    Email: splummer@uegl.ca
    or
    Universal Energy Group Ltd.
    Shawn Dym
    Senior Vice President, Business Development
    (416) 673-4761
    Email: sdym@universalenergy.ca